Norfolk Southern Corp. (NSC) Shares Sold by State of Wisconsin Investment Board

State of Wisconsin Investment Board decreased its holdings in Norfolk Southern Corp. (NYSE:NSC) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 258,696 shares of the railroad operator’s stock after selling 5,830 shares during the quarter. State of Wisconsin Investment Board’s holdings in Norfolk Southern were worth $37,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NSC. Commonwealth Bank of Australia raised its stake in Norfolk Southern by 2,921.5% in the third quarter. Commonwealth Bank of Australia now owns 1,277,777 shares of the railroad operator’s stock valued at $168,353,000 after buying an additional 1,235,488 shares during the period. American Century Companies Inc. raised its stake in Norfolk Southern by 124.5% in the fourth quarter. American Century Companies Inc. now owns 1,231,991 shares of the railroad operator’s stock valued at $178,515,000 after buying an additional 683,170 shares during the period. Vaughan David Investments Inc. IL increased its stake in shares of Norfolk Southern by 6,127.8% during the third quarter. Vaughan David Investments Inc. IL now owns 612,319 shares of the railroad operator’s stock worth $29,606,000 after purchasing an additional 602,487 shares during the period. Prudential Financial Inc. increased its stake in shares of Norfolk Southern by 61.2% during the third quarter. Prudential Financial Inc. now owns 1,143,908 shares of the railroad operator’s stock worth $151,270,000 after purchasing an additional 434,160 shares during the period. Finally, Epoch Investment Partners Inc. increased its stake in shares of Norfolk Southern by 73.1% during the third quarter. Epoch Investment Partners Inc. now owns 372,632 shares of the railroad operator’s stock worth $49,276,000 after purchasing an additional 157,374 shares during the period. Hedge funds and other institutional investors own 72.93% of the company’s stock.

A number of equities analysts have recently weighed in on NSC shares. Zacks Investment Research lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Royal Bank of Canada upgraded Norfolk Southern from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, January 24th. BMO Capital Markets increased their target price on Norfolk Southern from $127.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Credit Suisse Group increased their target price on Norfolk Southern from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, TD Securities increased their target price on Norfolk Southern from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $140.85.

In other Norfolk Southern news, VP Thomas E. Hurlbut sold 467 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $150.17, for a total value of $70,129.39. Following the sale, the vice president now owns 5,000 shares of the company’s stock, valued at approximately $750,850. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 2,370 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total value of $319,262.70. Following the completion of the sale, the vice president now directly owns 6,370 shares in the company, valued at approximately $858,102.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,012 shares of company stock worth $2,690,734. Corporate insiders own 0.36% of the company’s stock.

Norfolk Southern Corp. (NSC) opened at $142.64 on Friday. Norfolk Southern Corp. has a 52 week low of $109.27 and a 52 week high of $157.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.84. The company has a market capitalization of $40,509.33, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.13. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $1.42 EPS. The company’s revenue was up 7.2% on a year-over-year basis. equities analysts forecast that Norfolk Southern Corp. will post 8.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, February 1st. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio (DPR) is 15.38%.

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Norfolk Southern Profile

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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